Ukraine possesses substantial titanium resources, holding the largest reserves in Europe and ranking among the world's top producers with approximately 7% of global production12. The country has 15 titanium deposits, with four currently under development, primarily concentrated in the Kyiv, Dnipro, Kharkiv, and Donetsk regions3. Despite having significant bedrock deposits, Ukraine's current titanium production comes exclusively from placer deposits operated by facilities like the Irshansky GZK in Zhytomyr and the Vilnohirsk Mining and Metallurgical Factory in Dnipropetrovsk4. These resources could potentially meet US and EU metallic titanium demand for over 25 years2.

Ukraine also holds impressive lithium reserves, estimated at approximately 500,000 tons, representing nearly one-third of Europe's proven deposits and about 3% of global resources56. The country has four main lithium sites: Polokhivske, Dobra, Shevchenkivske, and Kruta Balka57. However, some key deposits, including Shevchenko Deposit (Donetsk) and Kruta Balka (Zaporizhzhia), are currently located in Russian-occupied territories, complicating access to these strategic resources67. While Ukraine hasn't yet begun commercial lithium mining, these deposits represent a potential trillion-dollar resource critical for battery production and the green energy transition5.

The proposed Ukraine-US investment fund will likely follow a 50/50 structure, where both countries have equal partnership and decision-making authority. This balanced approach represents a significant evolution from earlier drafts that positioned Ukraine as a limited partner with minimal control.1 The fund will be established as a Delaware Limited Partnership, with both nations contributing resources and sharing governance responsibilities through equal board representation.2

Similar to other 50/50 investment vehicles in the financial world, the fund will likely maintain a diversified portfolio allocation between equity and fixed income assets.34 It will focus on strategic investments in Ukraine's reconstruction, particularly in mineral resource development and infrastructure projects including roads, ports, and energy facilities.5 This structure ensures that Ukraine maintains sovereignty over its resources while benefiting from US capital and expertise, creating a framework that protects both nations' economic interests while facilitating Ukraine's post-war recovery.21

The agreement establishes a 50-50 partnership structure through the "Reconstruction Investment Fund," where Ukraine will contribute half of future revenues from its strategic resources including minerals, hydrocarbons, oil, and natural gas.1 This represents a significant shift from earlier proposals, as Ukraine successfully resisted U.S. attempts to secure $500 billion in critical mineral deposits and removed provisions that would have framed the deal as repayment for military aid.23 The fund will operate under U.S. law but with joint governance, with Ukraine maintaining full ownership of its natural resources while the U.S. provides financial aid and investments.1

Ukraine's mineral wealth includes approximately 500,000 metric tons of lithium reserves, 107,000 metric tons of uranium, and significant deposits of titanium, graphite, beryllium, manganese, and other critical materials valued potentially at $10-12 trillion.45 A key provision ensures that all fund proceeds must be reinvested into Ukraine's economic recovery at least annually, with the memorandum explicitly stating the agreement will not conflict with Ukraine's EU integration path or its obligations to international financial institutions.31